Constellation Brands Inc (STZ) Holdings Increased by Cypress Capital Group
Cypress Capital Group raised its holdings in Constellation Brands Inc (NYSE:STZ) by 187.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,351 shares of the company’s stock after buying an additional 2,835 shares during the quarter. Cypress Capital Group’s holdings in Constellation Brands were worth $843,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of STZ. Schroder Investment Management Group purchased a new stake in Constellation Brands in the 1st quarter valued at about $306,000. Neuberger Berman Group LLC grew its holdings in Constellation Brands by 3.4% in the 1st quarter. Neuberger Berman Group LLC now owns 39,775 shares of the company’s stock valued at $6,446,000 after buying an additional 1,306 shares during the period. BB&T Securities LLC grew its holdings in Constellation Brands by 89.2% in the 1st quarter. BB&T Securities LLC now owns 16,598 shares of the company’s stock valued at $2,690,000 after buying an additional 7,823 shares during the period. Municipal Employees Retirement System of Michigan grew its holdings in Constellation Brands by 1.1% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 5,730 shares of the company’s stock valued at $929,000 after buying an additional 60 shares during the period. Finally, Gofen & Glossberg LLC IL purchased a new stake in Constellation Brands in the 1st quarter valued at about $206,000. Institutional investors own 74.96% of the company’s stock.
Shares of Constellation Brands Inc (STZ) traded down 0.01% during trading on Wednesday, hitting $207.94. The company’s stock had a trading volume of 364,037 shares. The company has a market capitalization of $35.82 billion, a P/E ratio of 23.90 and a beta of 0.04. The firm’s 50 day moving average is $201.69 and its 200-day moving average is $187.91. Constellation Brands Inc has a 1-year low of $144.00 and a 1-year high of $213.40.
Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 5th. The company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.30. Constellation Brands had a return on equity of 22.88% and a net margin of 22.04%. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the prior year, the company earned $1.77 EPS. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. Analysts forecast that Constellation Brands Inc will post $8.42 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 21st. Investors of record on Tuesday, November 7th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, November 6th. This represents a $2.08 annualized dividend and a yield of 1.00%. Constellation Brands’s payout ratio is 26.03%.
Several analysts have commented on STZ shares. Argus lifted their price target on Constellation Brands from $194.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 5th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $215.00 price objective (up from $205.00) on shares of Constellation Brands in a research note on Monday, July 3rd. Goldman Sachs Group, Inc. (The) reaffirmed a “conviction-buy” rating and issued a $212.00 price objective (up from $198.00) on shares of Constellation Brands in a research note on Friday, June 30th. Macquarie began coverage on Constellation Brands in a research note on Thursday, September 14th. They issued an “outperform” rating and a $227.00 price objective on the stock. Finally, Morgan Stanley lifted their price objective on Constellation Brands from $204.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, July 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Constellation Brands currently has a consensus rating of “Buy” and a consensus target price of $216.00.
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In related news, EVP Christopher Stenzel sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $196.75, for a total transaction of $983,750.00. Following the completion of the sale, the executive vice president now owns 39,721 shares in the company, valued at approximately $7,815,106.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Barry A. Fromberg sold 2,000 shares of the stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $195.93, for a total value of $391,860.00. Following the sale, the director now owns 22,820 shares of the company’s stock, valued at approximately $4,471,122.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,286 shares of company stock valued at $15,123,316. 15.59% of the stock is owned by corporate insiders.
Constellation Brands Company Profile
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.
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